AUD/INR may rise 271 - 388 pips

Our pivot point stands at 55.760.

Our preference

The upside prevails as long as 55.760 is support.

Alternative scenario

The downside breakout of 55.760 would call for 55.562 and 55.445.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 55.855 and 55.819).

Supports and resistances

56.566 **

56.448 *

56.330 **

56.213

55.942 last

55.837

55.760 **

55.562 *

55.445 **

Number of asterisks represents the strength of support and resistance levels.